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Short Case 2 During 2020, Beta LLC has made a credit sale for OMR 400,000. Allowance for doubtful account has no balance at the end
Short Case 2 During 2020, Beta LLC has made a credit sale for OMR 400,000. Allowance for doubtful account has no balance at the end of the year. The following aging schedule is prepared by Beta for its accounts receivable; Aging class Receivable Balance (OMR) Estimated % of uncollectible 030 days 250,000 5 3160 days 100,000 10 61-90 days 35,000 25 Over 90 days 15,000 35 Total 400,000 Required: Estimate the amount of allowance using Accounts Receivable Aging Method and write adjusting entry
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